MIRA
INFORM REPORT
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Report Date : |
8th
November 2006 |
IDENTIFICATION
DETAILS
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Name : |
BMC QATAR WLL |
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Registered Office : |
Jediah Street, Jediah Roundabout 3988 & 24407, Doha Qatar |
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Country : |
Qatar |
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Financials (as on) : |
31/12/2005 |
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Date of Incorporation : |
2002 |
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Com. Reg. No.: |
25291, Doha |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
Waterproofing, concrete repair and
restoration contractors. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
US$ 300,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
SUMMARY
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Company Name |
BMC QATAR WLL |
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Country of Origin |
Qatar |
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Legal Form |
With Limited Liability - WLL |
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Registration Date |
2002 |
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Commercial Registration Number |
25291, Doha |
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Issued Capital |
QR 1,500,000 |
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Paid up Capital |
QR 1,500,000 |
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Total Workforce |
300 |
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Line of Business |
Waterproofing, concrete repair and restoration contractors. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
BMC QATAR WLL
ADDRESS
Registered & Physical Address
Street : Jediah Street
Area : Jediah Roundabout
PO Box : 3988 & 24407
Town : Doha
Country : Qatar
Telephone : (974) 4429505
Facsimile : (974) 4438556
Email : bmcqatar@qatar.net.qa
Premises
Subject operates from a medium sized suite of offices that are owned and located in the Central Business Area of Doha.
KEY PRINCIPALS
Ghanim Sultan Al Hodaify Al Khuwairy Managing Director
Roger Nehmeh General Manager
Said Demashqi Operations Manager
LEGAL FORM & OWNERS
Date of Establishment : 2002
Legal Form : Sharikat Thet Massouliya Mahdoudeh (With Limited Liability - WLL)
Commercial Reg. No. : 25291, Doha
Issued Capital : QR 1,500,000
Paid up Capital : QR 1,500,000
Name of Shareholder (s)
BMC
Saudi Arabia
Ghanim Sultan Al Hodaify Al Khuwairy
Note to the Legal Form
A limited liability company must have between two and thirty members. Its minimum capital cannot be less than QR 200,000. The capital is divided into shares of not less than QR 1,000 each. The company must keep a register of members. The liability of members is restricted to the nominal value of their shares in the registered capital.
LINE OF BUSINESS
Operations : Engaged as waterproofing, concrete repair and restoration contractors.
Operating Trend : Steady
Subject has a workforce of approximately 300 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Qatari Riyals (QR)
Year Ending 31/12/04 : Year Ending 31/12/05 :
Total Revenue QR 41,000,000 QR 48,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Arab Bank Ltd
PO Box : 172
Doha
Tel : (974) 4437979 / 422814
Fax : (974) 4410774
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000:
Established in 2002, subject is involved as waterproofing, concrete repair and restoration contractors.
Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the company is deemed a fair trade risk and the above credit figure is considered to be within subject’s financial means.
Maximum suggested credit figure: US$ 300,000
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon maturity |
Limited with full security |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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